NBC News - A just-released Federal Reserve report shows credit card debt has reached a record high at $1 trillion.

Survey results from CreditCard.com found that those in debt are outright pessimistic about digging their way out.

"About two thirds of American adults with debt aren't convinced that they're ever going to get out of it," said Matt Schulz of CreditCard.com

Schulz says their survey comes at the beginning of a year where debt could get worse because interest rates are rising and wages are still stagnant.

But, Schulz says the most effective way out is a balance transfer credit card.

Nerdwallet just released its top ten balance transfer cards, which Schulz says are attractive because they are interest-free.

Even though balance transfer cards can be tricky, because of fees and strict deadlines, Schulz says they are still a god-send.

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